AVI, a short for Audio Video Interleave, is a file format designed to store both audio and video data in a standard package to allow its simultaneous playback. Created by Microsoft in November 1992, AVI is one of the most commonly used video formats. A variation of the AVI format, called DV AVI, is used to create Digital Video that can be transferred losslessly (without loss of quality) between computers and camcorders. Learn more.